Start with the end
in mind.
Retirement planning is much more than your investments.

Why plan for retirement?

You work hard to afford the lifestyle you want and to attain financial freedom. You want to maintain this lifestyle and freedom when you retire.  To prepare adequately for your retirement, we suggest you speak to a financial adviser for specialist retirement advice.
Hard Questions

Working with a financial planner is an important step in anybody’s financial journey, especially in planning your retirement.  It’s the key, in fact, to taking your wealth further and enabling you to do the things that are important to you. That’s why we do everything we can to help you and financial planners to get the maximum value out of the financial planning process.

the questions to help you get the most from your retirement planning

Hard questions

Retirement Reform

National Treasury’s proposed next steps in its retirement reform process, which aims to transform the retirement savings industry and improve savings outcomes for all South African workers, grabbed the attention of retirement fund members. It outlines a set of reforms to enable pre‐retirement access to a portion of one’s retirement assets, while ensuring that the remainder is preserved until retirement. Although there is still much to be clarified before the system can be implemented, these changes will see a fundamental shake-up of pensions and retirement in the country.

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Your retirement plans at every stage

Consider the following when making your retirement plans.

Saving for retirement

A good retirement plan starts with appreciating the importance of contributing regularly to your future financial freedom.

The earlier you start, the more opportunity your money has to grow. Since investing for your retirement is often a long-term endeavour, the value of good financial advice from the start cannot be overestimated.

There are three retirement funds on offer from Old Mutual Wealth.

Wealth Preservation Provident Fund

Wealth Preservation Fund

Wealth Retirement Annuity Fund

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Postponing retirement

The date you choose to retire is completely up to you and so is the choice of when to start using your retirement savings – as long as it's after age 55.

If you have more than one retirement fund, you can also choose when and how much you need from each fund after retirement, with the option of not taking any payout from a fund until you're ready. Of course, the longer you wait to take a payout from a fund, the more time your money has to grow.

It's important to review your investment strategy as you get close to your retirement date to make sure it reflects your changing investment needs.

Postponing retirement
Options at retirement

Take some of your savings as cash

Depending on the type of your retirement investment, you may be able to take a portion of your retirement savings as cash, which might be subject to tax.

Purchase an income for life

Use your retirement savings to secure an income for the rest of your life (and potentially also the life of your spouse). Different options affect your income and its growth.

Purchase a living annuity

A living annuity gives you the freedom to choose your income on a yearly basis and you can choose your own investments. You are, however responsible for ensuring your retirement savings last long enough to provide an income for the rest of your life.

A combination of the above options

You can also choose to use a combination of the above options and even change your choice over time for certain options.

Options at retirement
Why choose Old Mutual Wealth’s Retirement Planning